Marcus Whitney co-founded the social media commerce company Moontoast, which now has its headquarters in Boston. / George Walker IV / File / The Tennessean

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Moontoast, a social media advertising company founded in Nashville, raised $4.5 million to fund further growth.

The investment was made by Nashville-based investment company The Martin Cos., which led a $5 million investment round for Moontoast last year. In all, the company raised more than $20 million.

Moontoast, which works with brands including Toyota, Nike, Hyundai and Nissan, reported a 277 percent revenue increase in 2013.

“We anticipate that 2014 will be a year of further acceleration and continued platform innovation,” Moontoast CEO Blair Heavey said in a prepared statement.

“This investment will allow us to accelerate these efforts and to further extend our market leadership and results in social rich media.”

Moontoast provides brands with social media advertising that engages consumers through social media platforms including Facebook, Twitter, Linkedin and Instagram, as well as analytics used to guide marketing strategies.

The company was co-founded in 2008 by Marcus Whitney, Joe Glaser and Bucky Baxter in Nashville and has since moved its headquarters to Boston, adding offices in New York and San Francisco.